St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-12-08
THE COMMERCIAL RECORD.
On the Chicago Board Of Trade the Most
of the Dealing Was in
Corn.
Wheat, However, Proved to Be the
Strongest Article During the First
Hours Business.
Transactions in the Financial Circles
of Wall Street.-The General
Quotations.
Special TO the Globe.


Chicago, Dec. THE very free and very
earnest calling of margins yesterday after
noon brought great many orders from the
country this morning TO sell stuff, and the
market opened weak Wheat and corn
started in about I2c lower. There was more
country realizing in corn and pork than III
ANYTHING else. May corn sold down TO 53Ac
and January corn to 4SIsc, break from yes
terday of S407sc There was heavy trade
in the pit during the first hour, and at this
decline there was big buying, which
stIffened the market and put prices up l4Gssc.
Wheat settled to S3a4c for May, but soon be-
came frmer. Wheat is felt to be relatively
cheaper than corn and pork, and speculation
in that cereal has been of a more cOnserYa-
tive character. I'VE have had our break and
it's good time to buy" wired leading bull
house TO its customers early this morning
The tip was a good one, there was ire
mendous activity in provisions. The country
realized extensively on its lines of pork.
January sold down TO SLIGO and May 10
$14S5. The shorts were good
buyers early and when they
were through the market received unex-
pected support from other quarters ana
quick advance Wright was large buyer OF
lard at around S7.4C@7.45 for January and
S7.5567.65 for May. Ribs were generously
traded in early at S7.4O@7.46 for January
and S7.550770 for March. The market
brought up with a short jerk. and by noon 1t
begun TO look as though the bulls were again
in charge The total break of 3l2c in corn,
Sc in wheat and nearly 81 in pork seemed to
exhaust the reactionary force of speculation.
The country stood the racket better than ex-
pected and a strong propensity TO protect
trades developed. To be sure, millions upon
millions of bushels of grain held
on sHoEsTING MARGINS
were dumped on stop loss orders, but the
roundup shows that only small percent
age of the outside host of bulls spread them
selves out to dangerous extent. The reck-
less players went broke on the slump, but the
property that was forced out went TO over
shorts, and the contracts not rung up seem to
have settled in strong hands. The slaughter
of the innocents' has been arrested for the
present at least and the gentleman from
Pinehook Is once more in fine feather. He is
less numerous than he was three or four days
ago, but he is as game as ever, and his chin is
in the air. From the extreme point
of depression, 53Ac for corn and S3s4c
for May wheat corn advanced 1l2c
and wheat lie before IL o'clock.
May pork went jumping along up to $3.50,
and January lard found its way TO S7.12l2,
while March ribs were In active request at
S772L2. There was considerable covering
on short pork and other product, but when
The market turned up commission houses
began struggling into The pit, with country
orders 10 execute. As illustrative OF the bull
ishness Of wheat and corn it was noticed that
on every depression the crowds thinned out.
IL, IL.
up the pits would fill with eager buyers. The
buyers outnumbered sellers five to one. The
foreign markets are following Chicago. The
cables reflect the state of affairs here. partic-
ularly in corn. Europe is absolutely depend
ent on America for corn. 1t must pay what
ever American sellers choose TO ask. With
wheat the situation is less aggravated, but
speculative sentiment on this side will con-
tinue TO exert increasing influence on values
abroad. Speculative trading was on a large
scale in all the pits and the markets are in a
nervous, but on the whole, not unhealthy
state. unless speculation in every stage may
he considered unhealthy.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-NO. =. December, opening at 76lec.
closing al 7734c: January, opening at 767sc.
closing al 7S14c; February, opening at 77l2c,
ing at S54c. Comm. ,, December, open
ing at 4SIsc closing at 1850; January, OPEN
ing at 4Sl2c, closing at 50lsc; February,
opening at 4sI2c; closing at 5O4c; May,
opening at 537sc, closing at 55Ac.
Oats-No. ,, January, opening at 30c,
closing at 3GSsc; May, opening at 33c,
closing at 3&sac. Mess Pork, per Dbl
January. opening at Sl425, closing at
S14.77l2; February. opening at Sl4.45, clos
ing at Sl4 92l2; May opening at Sl490. clos
ing al SIS .37I2. Lard. per 100 lbs-January
opening at 500. closing at $40: Feb
ruary, opening at S7.32l2, closing at
S7.47l2; March. opening at $40. closing
mgat SITE. Short Ribs, per 100 lbs
January, opening at 81 40. closing at 1872 !;
February, opening at STATE, closing $40:
March, opening at $3.50, closing at 81. 80;
May, opening at SI.S5. closing at S..
Cash quotations were as follows: FioU-
quiet and steady; prices firm and unchanged.
Wheat-NO. : spring, I!l6@I1ssc; No. 3
49Ac. Oats-No. ,, 30@3lI2c. Rye-No. 2.
69c. Barley-No. 2, 72@76c. Flax seed
No. /, S123. Timothy seed-Prime, 81 81
Mess pork, per bbl., S14 GO@14.7O. Lard,
per 100 lbs. S7.27I2@7.30. Short rib sides
(loose), S7.45@7.5O; dry sailed shoulders
tbOxed). S7.5O@6; short clear sides (boxed),
SSQS.S5. Whisky-Distillers' finished goods
per gallon, S1.10. Sugars-Cut loaf, 7l2@
Sac; granulated, 7Isc bid standard "A, = &c
bid. Receipts-Flour, 1900 bbls; wheat
10000 bu; corn, 100000 bu; oats I5,-
900 bu; rye. 5000 bu: barley, III 900 bu
Sbipments-FIour, $4,000 bbls; wheat, 80
600 bu; corn, 1000 bu; oats, 10000 bu !;
rye. 1000 bu; barley, 81 900 bu. On the
produce exchange today the butter market
was firm: fancy creamery, 29l2@3lc: fancy
dairy, 25Q26c. Eggs, 21l2@23c.